Med sup claims skying and enrollment falling . Next yr premiums jump big
- Thread starter DonP
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straightnochaser
Guru
- 558
I shared this earlier as well, the data is concerning for sure.
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- #3
I just read big article . Some analysts believe benefits in mapd could see big reversal in 2025 . There predicting some food cards could be gone , dental having copays , copays on medical rising . We know one thing . The total # of insureds will be the same overall . But the days of sitting on your book and making renewals leaving it alone could be over . An agent might have to move 20-50% of his book in 2025 as plans will differ greatly. I think agents with bigger books better forget growing this aep and be prepared to deal with moving clients all aep
Time to quit!
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- #5
I’ll sell my book . 4x commissions ( books now much more valuable with loss of marketing money . Cheaper to buy than grow) That’s over $1 million . I want 100% payment up front structured as a capital gain .Im running 96% persistentcy last 12 months on a 99% mapd book .
- 2,204
Not me. This stuff is getting fun.
If my clients want to move, I'll buy an old, beat up school bus and take them where they want to go.
Lol that's my deal,
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- #8
That’s were I got it from !!! 4x baby !!!!
I'm re writing a bunch of med supps this year.
Re-wrote one this morning - I've had her policy since she turned 65 - went from UHC G eff 2/1/20 to new G 5/1/24 - new comp trail starts
Got her husband's - when she had turned 65 in 2020 he wasn't interested in changing. But now he's paying more... Got his Plan F UHC (was over $240/mo) down to new G at $122.
--
Every Monday, I'm sending 40 emails to a segment of my book asking them to call me (or calendly link) for a rate review.
This way - I can work through all 850+ med supps at a reasonable pace spread out over time. And hopefully won't have any asking for price checks or whatever during AEP.
For those willing to learn underwriting - I do think the med supp market has some disruption this year.
Re-wrote one this morning - I've had her policy since she turned 65 - went from UHC G eff 2/1/20 to new G 5/1/24 - new comp trail starts
Got her husband's - when she had turned 65 in 2020 he wasn't interested in changing. But now he's paying more... Got his Plan F UHC (was over $240/mo) down to new G at $122.
--
Every Monday, I'm sending 40 emails to a segment of my book asking them to call me (or calendly link) for a rate review.
This way - I can work through all 850+ med supps at a reasonable pace spread out over time. And hopefully won't have any asking for price checks or whatever during AEP.
For those willing to learn underwriting - I do think the med supp market has some disruption this year.
So, you moved med supp from uhc to uhc and you are getting 6+ yrs of new reset renewals?
